Automotive Door Latch Market: Competitive landscape with Technological breakthroughs
The latch is utilized in the bonnet, tailgate, and doors of a vehicle. The development in electronics has led to the expansion of the electronic latches market. The electronic latch system allows the driver to control the access to all the doors. The electronic latch market has expanded significantly due to the adoption of power doors in passenger cars that permit the driver to access all four doors, the bonnet, and tail gate. The power lock technology option has been made available in several passenger cars. The electronic door latch system has enabled auto makers to develop automatic lock systems.
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Automatic locks allow the doors to be locked automatically once the vehicle speed surpasses 10km/hr in order to enhance passenger safety. The electronic locks are used more in passenger cars than in commercial vehicles. The luxury vehicles have integrated aerodynamic locks, wherein the lock system blends in with the door frame without a protruding edge in order to minimize the drag and increase fuel efficiency. Lightweighting in latches has emerged as a trending technology due to the efforts to downsize and the prevailing emission norms.
The price of an electronic latch is a key restraint for the market. The refrained use of electronic latch in commercial passenger cars and cabs as the driver holds the control of passenger door arises safety concerns and may restraint the market.
The global automotive door latch market can be segmented based on type, application, sales channel, vehicle, and geography.
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Based on type, the automotive door latch market can be classified into mechanical latch and electronic latch. The conventional mechanical latch segment holds a prominent market share in commercial segment and in low –premium cars, as it is cost-efficient. The electronic door latch is widely utilized in passenger cars owing to the rise in demand for safety and increase in demand of electronics. Several passenger cars utilize an electronic latch for the side doors and a mechanical latch for the bonnet and tail gate in order to reduce cost.
In terms of application, the door latch market can be classified into side door latch, tail gate latch, and bonnet latch.
Based on vehicle, the automotive door latch market can be segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment is estimated to expand due to the rise in production of cars.
In terms of geography, the global automotive door latch market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Economic growth in Brazil, India, and Mexico is boosting the production of commercial vehicles in these countries, which in turn is propelling the commercial vehicles segment of the door latch market. Asia Pacific and Europe are major markets for door latch owing to high production of vehicles in these regions.
The key players operating in the global automotive door latch market include Magna International Inc., which developed the world’s first smart latch that was installed in the BMW i8.
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